KBC Group NV Increases Position in Omnicom Group Inc. (NYSE:OMC)

KBC Group NV boosted its holdings in Omnicom Group Inc. (NYSE:OMC) by 5.5% in the third quarter, HoldingsChannel reports. The firm owned 101,101 shares of the business services provider’s stock after purchasing an additional 5,286 shares during the period. KBC Group NV’s holdings in Omnicom Group were worth $10,453,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC increased its stake in shares of Omnicom Group by 89.1% in the first quarter. Quent Capital LLC now owns 692 shares of the business services provider’s stock worth $67,000 after buying an additional 326 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Omnicom Group by 13,957.7% in the 1st quarter. Acadian Asset Management LLC now owns 54,122 shares of the business services provider’s stock valued at $5,234,000 after purchasing an additional 53,737 shares in the last quarter. Covestor Ltd lifted its position in shares of Omnicom Group by 62.3% during the first quarter. Covestor Ltd now owns 1,771 shares of the business services provider’s stock worth $171,000 after purchasing an additional 680 shares during the last quarter. Lcnb Corp acquired a new position in Omnicom Group in the first quarter worth about $223,000. Finally, Alerus Financial NA increased its holdings in Omnicom Group by 0.6% in the first quarter. Alerus Financial NA now owns 70,251 shares of the business services provider’s stock valued at $6,797,000 after buying an additional 407 shares during the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Omnicom Group Trading Down 7.8 %

Omnicom Group stock opened at $96.86 on Friday. The firm has a 50-day moving average price of $102.16 and a two-hundred day moving average price of $96.52. Omnicom Group Inc. has a 52-week low of $76.90 and a 52-week high of $107.00. The firm has a market capitalization of $18.90 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 2.32 and a beta of 0.95. The company has a quick ratio of 0.86, a current ratio of 0.98 and a debt-to-equity ratio of 1.37.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Tuesday, October 15th. The business services provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.79 billion. Omnicom Group had a return on equity of 36.59% and a net margin of 9.45%. During the same period in the prior year, the company posted $1.86 EPS. Sell-side analysts expect that Omnicom Group Inc. will post 7.94 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Macquarie lifted their target price on Omnicom Group from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lowered shares of Omnicom Group from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $106.00 to $110.00 in a research note on Wednesday, October 16th. Bank of America increased their target price on shares of Omnicom Group from $87.00 to $89.00 and gave the stock an “underperform” rating in a report on Thursday, September 5th. UBS Group boosted their price objective on shares of Omnicom Group from $120.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Omnicom Group from $118.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Omnicom Group currently has a consensus rating of “Moderate Buy” and an average target price of $110.11.

Insider Activity at Omnicom Group

In related news, CAO Andrew Castellaneta sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $105.29, for a total transaction of $421,160.00. Following the sale, the chief accounting officer now owns 23,545 shares of the company’s stock, valued at $2,479,053.05. The trade was a 14.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Rochelle M. Tarlowe sold 3,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $99.17, for a total value of $297,510.00. Following the transaction, the vice president now directly owns 15,375 shares of the company’s stock, valued at approximately $1,524,738.75. The trade was a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Omnicom Group Company Profile

Omnicom Group Inc, together with its subsidiaries, offers advertising, marketing, and corporate communications services. It provides a range of services in the areas of advertising and media, precision marketing, commerce and branding, experiential, execution and support, public relations, and healthcare.